Bill discounting solution for Tata Nexarc
My Role
Lead UX Designer
Research, Planning, Product flows, Interaction Design, Visual Design, Prototyping, Development support, Testing
Timeline and Status
2020-2021 (6 months)
Current version is live at: https://www.tatanexarc.com/finance/earlypay/
Summary
We designed and launched an invoice discounting platform within Tata Nexarc umbrella to offer efficient invoicec settlement product for wide range of business partners.
This work is under NDA.
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Background
Nexarc is a cutting-edge digital platform that empowers businesses to expand their operations, overcome challenges, and streamline their processes. With an array of comprehensive products and services, Nexarc equips businesses with the necessary tools to explore new avenues, obtain expert guidance, and achieve optimal efficiency.
My contribution
As the Lead Product Designer for this product, I also worked as an integral part of the dynamic UX Design Team responsible for developing the inaugural version of Nexarc Platform. Throughout this process, I had the privilege of collaborating with a remarkable group of researchers, analysts, industry experts, software developers, and our esteemed clients.
During my involvement in the project, I actively contributed to the creation of various platform modules and standalone applications, one notable example being Nexarc Earlypay.
What is Earlypay?
Within the Tata Group ecosystem, various entities collaborate with numerous small and medium enterprises both within India and globally. Billing procedures constitute a significant component of their operational workflow. To address this, Earlypay has been integrated into the Tata Nexarc Platform, offering an in-house bill discounting solution.
Nexarc Earlypay revolutionizes the way businesses manage their invoice payments by facilitating early payment options. In exchange for a discounted rate from their customers, businesses can access funds against their invoices through this innovative platform.
Impact and achievements
As the lead designer on this project, I collaborated with the Nexarc team until we successfully designed and developed the first version of Earlypay for pilot testing with a limited number of users.
Following the project handover, the Nexarc team has continued to make remarkable progress in further developments, leading to its widespread adoption among business users.
According to data from the Nexarc website, this product has achieved the significant milestones::
5000
Businesses
onboarded on EarlyPay till now, enabling benefits from discounted invoicing opportunities
₹10000
Crore
worth of invoices successfully settled till now, across business portfolios
Testimonials
Source: Nexarc Earlypay